Financial Times FT.com

Banks and carmakers spearhead advance

By Stephen Smith

Published: July 13 2009 12:05 | Last updated: July 13 2009 19:27

Positive news for banks and carmakers eclipsed early nerves surrounding the corporate earnings season as European stocks recovered from 11-week lows on Monday to make only their second advance in the past eight sessions.

The FTSE Eurofirst 300 rose 1.9 per cent to 830.19, a turnround from the poor sentiment at the opening of trade when the index fell to 805.93, a level last reached on April 24.

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